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Ezequiel Barrenechea, Director for Latin American and the Caribbean, Corporación América |
PERU. Leading airport manager Corporación América is preparing for significant commercial investment at the planned Cusco Chinchero Airport, after its consortium won the concession to construct and manage the new facility in Peru’s tourism hub.
In late April the government investment agency ProInversion announced the award of the concession to the Consorcio Kuntur Wasi consortium, formed by Corporación América with local partner Andino Investment Holding.
Awarding of the 40-year concession was based on the amount that consortia requested in financial contribution from the Peruvian government (to an agreed maximum of US$458 million) towards the airport construction.
Kuntur Wasi’s winning bid sought US$264.7 million; Consorcio Aeroportuario Imperial (Grupo Odinsa and Mota Engli Perú) requested US$348 million, and Consorcio Aeroportuario (Vinci Airports, Vinci Concessions and Graña y Montero) requested US411 million.
“It is a great honour for us to be responsible for the design, construction and operation of Chinchero International Airport,” commented Carlos Vargas Loret de Mola, General Manager of Andino Investment Holding, on behalf of the consortium. “This will contribute to serving visitors to Cusco with the highest standards, thanks to the expertise that we possess in airport infrastructure.”
Tender documents set the initial investment to build the new airport at US$539 million, increasing to US$658 million when factoring in future extension and renovations.
Kuntur Wasi will be responsible for building the new airport, which will replace the current Alejandro Velasco Astete Airport, with completion targeted for late 2020.
New commercial developments will be integral to the plans for the new airport, Ezequiel Barrenechea, Corporación América’s Director for Latin American and the Caribbean, told The Moodie Report
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Cusco Chinchero Airport as envisaged by its successful developer, Consorcio Kuntur Wasi |
The new airport is forecast to handle over 2.6 million domestic and international passengers annually in 2021.
Signing of the concession contract with Peru’s Ministry of Transport and Communications is expected in early July.
“From that date Kuntur Wasi will have 360 days in which to define and submit the final project,” Barrenechea said. “We anticipate approximately a year of planning, 18 months of earthworks and 30 months of construction.”
In addition to the investment sum, the consortium “will pay the Peruvian state an annual levy on all aeronautical incomes that exceed an agreed amount, which is estimated to be around US$35 million a year,” Barrenechea added.
The new project will be welcomed by retailers, given the aging terminal at Cusco’s current airport, located in the city centre.
Destination merchandise predominates in the current retail offer, with upscale retail brands like Kuna alongside numerous local handicraft stalls.
Chinchero, the site of the new airport, is outside the city and affords considerable room for expansion.
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The new airport will raise the bar for retail and food & beverage services at Cusco |
About the Kuntur Wasi partners
Corporación América is an Argentinean holding company with interests in airports, agro-industry, energy, infrastructure, services; it holds concessions for 53 airports in Latin America and Europe.
Andino Holdings is a Peruvian holding comprising 14 companies working in international trade, specifically in three main lines: infrastructure, maritime services and logistic services.
In 2010 Corporación América and Andino Investment Holding won the concession to operate six airports in Peru, at Andahuaylas (Apurímac), Ayacucho, Juliaca (Puno), Puerto Maldonado (Madre de Dios), Arequipa y Tacna.
Operating here as Aeropuertos Andinos del Perú, the consortium is administering, operating and redeveloping the airports, and has completed significant development at the largest of the six, Arequipa.
